Examples of Series B PIK Dividends in a sentence
Series B PIK Dividends on Series B PIK Dividends that are in arrears for any past Series B Dividend Periods shall accumulate as if the earlier Series B PIK Dividends had been issued as provided above, and shall be accrued.
Notwithstanding the foregoing, the Board of Directors in its discretion may decide to pay the accrued Series B Dividend Amount in the form of Series B PIK Dividends as set forth below.
Any additional shares of Series B Redeemable Preferred Stock issued pursuant to this paragraph shall be governed by this Section 4.2 and shall be subject in all respects, except as to the date of issuance and date from which Series B PIK Dividends accrue and cumulate as set forth in paragraph B.2(b) of this Section 4.2, to the same terms as the shares of Series B Redeemable Preferred Stock issued on the Initial Issue Date.
Series B PIK Dividends shall be payable in arrears during the Series B Dividend Payment Period on each Series B Dividend Payment Date, commencing on the first Series B Dividend Payment Date, and for shares issued as Series B PIK Dividends, commencing on the first Series B Dividend Payment Date occurring after such shares are issued.
Series B PIK Dividends on shares of Series B Redeemable Preferred Stock shall accrue at the applicable Series B Dividend Amount through the Series B Dividend Payment Period.
Unpaid Series B PIK Dividends may be paid at any time to holders of record on the Series B Record Date therefor.
The Series B PIK Dividends shall be paid by delivering to each record holder of Series B Redeemable Preferred Stock a number of shares of Series B Redeemable Preferred Stock (which number of shares shall be rounded to the nearest one-thousandth of a share) equal to the number of shares of Series B Redeemable Preferred Stock held by such holder on the applicable Series B Record Date, multiplied by the applicable Series B Dividend Amount.
The “Series B Original Issue Price” shall mean $129.83641 per share for each share of Series B Preferred Stock, subject to appropriate adjustment in the event of any stock dividend (other than the Series B PIK Dividends), stock split, combination or other similar recapitalization with respect to the Series B Preferred Stock.
On the Series B Record Date immediately preceding each Series B Dividend Payment Date, the Board of Directors of the Corporation shall be deemed to have declared Series B PIK Dividends on the Series B Redeemable Preferred Stock in accordance with paragraph B.2(a) of this Section 4.2, payable on the next Series B Dividend Payment Date.
The record holders of the outstanding Series B Redeemable Preferred Stock shall receive on each Series B Dividend Payment Date during the Series B Dividend Payment Period per share dividends in additional fully paid and nonassessable shares of Series B Redeemable Preferred Stock legally available therefor (such dividend being herein called "Series B PIK Dividends").